Infographic provided by Online Education Blog of Touro College.
For more tips on studying and much more, order your copy of The Secrets of Top Students today!
Infographic provided by Online Education Blog of Touro College.
For more tips on studying and much more, order your copy of The Secrets of Top Students today!
By Brian Wilkins
A report by The Institute for College Access & Success (TICAS) found that nearly 70 percent of 2013 college graduates had student loan debt averaging $28,400, up 2 percent from the 2012 average. Student loan payments are just one of the realities for college graduates entering the real world and trying to figure out the whole budgeting-your-life thing. Leader in the business of all-things personal finance, Intuit shares that transportation should account for no more than 10 percent of your net income, which might not seem like much (especially if you’re just out of college and making a not-so impressive salary), but you can still have a nice and reliable car if you exercise due diligence in the decision-making process.
The following tips will help guide you.
We all know car commercials; the best ones are those that advertise brand new sports cars with reasonable monthly payments you can actually afford. But after reading (or hearing) the fine print, you learn that the low payments are to lease the vehicle, not buy it. Well then, should you just lease?
Monthly payments are typically lower when leasing and the advantages don’t stop there if you’re the type of person who likes the idea of a new car every three years. This sounds great, especially since new vehicles depreciate in value as soon as you leave the lot (by 9 percent according to Edmunds). Then after one year of owning the vehicle, its market value drops to 81 percent. Thus buying a new car is a bad investment on the surface, right? Well, not in the long-run.
Owning a vehicle means no monthly payments and lower insurance premiums if you decide to switch from full coverage to liability. Modern cars, particularly Honda and Toyota models, are known to last well into the 250k mile range and even higher with proper maintenance. Leased vehicles also have mileage limits and, upon the end of the lease, you are responsible for any damage deemed excessive to normal wear-and-tear by the dealer.
The 2015 Auto Financing Report by personal finance social network WalletHub found that interest rates on both new and used cars are lower than they’ve been in several years. But not all loans and interest rates are created equal.
New cars provide peace of mind: you are the only owner, so no secrets as to where it’s been and, should something happen, you have a warranty to cover most major mechanical issues. Auto loans underwritten by the manufacturers had interest rates 35 percent below the average and financing via credit unions had rates 25 percent below the average. National and regional banks offered rates at or well-above average in most cases.
Used cars are, of course, less expensive and have already endured the bulk of value depreciation, which happens in the first few years on the road. Financing a used car is also much easier in most cases and much like student loans have income-based repayment plans, there are financing companies like DriveTime that offer customizable payment plans for all budgets. Used cars typically have lower insurance premiums and you may even be able to negotiate a used car warranty if you know your options.
If possible, purchase a certified preowned car that has been thoroughly inspected by the manufacturer. Some used cars companies offer third-party extended warranties, but make certain you thoroughly understand the terms before paying extra for it.
A subprime auto loan, those underwritten for customers with FICO scores of 650 or lower, is something to avoid altogether. To put it in perspective, a $20,000 four-year auto loan with a 3 percent prime rate will cost you only $1,248 in total interest. That same loan at an 18 percent (subprime) rate will cost you $8,200 in interest .
Obtain a copy of your credit reports from the three major bureaus. Your payment history and amounts owed on open accounts make up 65 percent of the aggregate FICO score. Pay down credit cards that are at or near the limit to quickly improve your score. It’s best to pay down/off the oldest accounts first, as length of credit is also factored into your score. A minimum credit score of 700 should be the goal before considering an auto loan at all.
The test drives and haggling with salesmen are the fun parts of buying or leasing a vehicle. Just heed all the aforementioned to get the best deal and make the right decision for what you need and what you can afford.
Brian Wilkins is an Arizona State University journalism grad who has worked as a radio broadcaster and banking industry professional. He is an independent journalist, blogger and small business owner who loves life. He lives off-the-grid and has not owned a TV in more than six years
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By Alison Stanton
Valentine’s Day is the most expensive holiday after Christmas, the National Retail Federation reports. Love birds across the country will spend a collective—are you ready?—$18.6 billion on gifts for their special someones. That averages out to about $130 per person.
For high school and college students on a tight budget, spending $130 on their sweetie is simply not possible. Although there are no hard-and-fast rules to how much you should spend, the following tips can help you decide when you should splurge and when you should cut back.
So how’s it going? If you two argue more than you get along or are spending less time together, this might not be the time to present some huge and spendy gift. Have an honest talk with your boyfriend or girlfriend and discuss how you’ll celebrate it, if at all. Maybe in the interest of saving money, you’ll just treat it like a regular day. You could also decide to exchange nice cards and maybe a small fun gift like his favorite candy bar or her favorite blended coffee drink.
If you’ve been dating for a few short weeks, treat Valentine’s Day a bit more casually than if you have been going out for a few years. Again, an open and honest approach is the way to go with someone you haven’t known that long—simply say you aren’t sure how to deal with a day that expects you both to act like crazed lovey-doveys.
On the other hand, if you have been together a while and are in love, it’s appropriate to spend a bit more on Valentine’s Day. You don’t need to take out a loan or rack up a huge credit card bill, however. Ask some of your closest friends who are in similar relationships what they expect to spend and see if it correlates with your budget and gift ideas. If your girlfriend of two years has been dropping hints about how much she would love to receive flowers at work, you could certainly splurge a little on that. For example, FTD sells a variety of beautiful Valentine’s Day arrangements that are in the $40-$50 range. Other gift suggestions for couples who are in solid and loving relationships include dinner out at a favorite restaurant and then watching a movie together all snuggled up on the couch, a nice wallet or purse that your sweetie has had his or her eye on, or a pair of designer sunglasses.
Between classes, jobs and other responsibilities, it might be challenging to celebrate Valentine’s Day on Feb. 14. If you do decide to celebrate with your sweetie, figure out ahead of time when and where you’ll get together. Above all, try not to feel like you have to spend a certain amount just to get through the day—just be honest with yourself, your sweetheart and your wallet, and the day will go a lot smoother.
Alison Stanton has been a freelance writer for the past 14 years. Based in the Phoenix, Arizona area, Alison enjoys writing about a wide variety of topics, but especially loves meeting interesting people and telling their stories.
By Roxy Barnes
It’s been said before and it’s true. College will leave you with a lifetime of memories. But if you’re not careful it will leave you with nearly a lifetime of debt. That is why students should take advantage of the discounts available simply for being students.
And they are everywhere. Many of these discounts are often listed on your school’s site. But don’t limit your search to just that. By putting your Internet skills to work, you can find discounts on nearly everything you’ll need, and some you wouldn’t expect, like this student carpet cleaning discount.
But that’s not all. Let’s start with a big way to save money in school – scholarships.
Paying for college is the top concern for the vast majority of college students. Many students may not realize this, but universities often have long lists of private scholarships from businesses and organizations listed somewhere on the financial aid section of their website.
Private scholarships come from every corner of the marketplace and often vary widely in their requirements for entering the scholarship contest. For example, this Halloween costume site offers a cash scholarship for designing a Facebook Cover image for their home page. If you’re more expressive in words, many businesses only require a 500 word essay (or less).
Most of these scholarships aren’t particular about what school you attend. So if your school doesn’t offer very many outside scholarships, check out the pages of some larger universities.
Books and Supplies
Way back in the day students had to buy all of their books from the university bookstore. You paid whatever price they charged and sold them back to the same store when you were done for next to nothing. Talk about buying from the company store – ouch! (Sometimes the good ole days were not so good.)
Now you have choices aplenty for buying your books and supplies. Online sites like Bookbyte.com open up the marketplace so you can shop around for the best deal. Don’t forget to check if your book is available as an eTextbook and save even more.
You probably already realize the savings you can get on software purchases with a student discount, but do some searching for student discounts on computers, tablets and other electronic devices.
Everything else
If there is a product or service that a student can use, you can bet some company is offering a discount on it. Businesses aren’t just doing this out of the goodness of their hearts, they are hoping to win your loyalty now and keep using them for years to come. So even if you don’t see a student discount advertised, don’t hesitate to ask if they have one. What’s the worst they can say?
Even storage companies are getting in on the game, offering student discounts on storage units over summer break. The list goes on, including companies like AmTrak, hotels, clothing stores, even credit cards offering discounted student rates.
If you think searching for student discounts on everything could turn into a time consuming obsession, there are a number of sites that are doing the searching for you. One of the more popular sites is Student Universe. They not only help you find deals on travel and lodging, but have categories of discounts ranging from clothing to food and health.
College is expensive. If you can use your student status to save a few dollars here and there, over the course of a college career the savings adds up. Don’t let that money go to waste. That way, when you look back on your college years, hopefully all you’ll have are great memories, not ones tempered by the specter of debt.
Going to college? Give yourself the gift of good grades with The Secrets of Top Students!
By Mathew Jade
Education costs have grown rapidly over the years, and students are finding it increasingly difficult to manage their finances. Funding for education is a challenging task, particularly for high school students who want to attend top-notch universities and unemployed individuals who wish to pursue different lines of work. Instead of settling for mediocre alternatives, you can still aim big by paying for your education in the following ways:
Education Grants
You may consider applying for financial grants for educational purposes. Students can acquire educational grants from the financial aid office of their universities. The best thing about grants is that you don’t have to pay them back. The only hurdle is qualifying — which isn’t necessarily easy.
Scholarships
Excellent high school students are frequently awarded merit-based scholarships, which also do not need to be repaid. The qualification for these scholarships varies, but often requires the student to have great grades and high scores on scholastic aptitude tests.
Work-Study Employment Plans
Some students work on a part-time basis to generate funds for their education. To this end, you may consider applying to your university to see if employment opportunities are available. The U.S. Government currently provides a 60 percent wage subsidy to employers of students engaged in work-study programs.
Internships and Trainings
On-the-job training opportunities and internships may allow you to to combine class attendance with full-time work. Although internships do not provide big financial compensation, they do allow students to gain practical experience, enabling them to decide about their major and possibly resulting in a job offer from the company they worked for.
Private Loans
By requesting private education loans from your friends and family, as well as from various other private sources, you may be able to cover hefty fees and pay them back in installments. Student loans can usually be arranged at either fixed or compound interest rates, which normally require a financially sound co-signer and a credit check if the loan provider is not satisfied with or unaware of your credit history. Many people believe that it is nearly impossible to repay students loans, but that’s not true; there are organizations that provide counseling for students to help them with their repayment structure.
Tax Breaks
Students may be able to get tax deductions in addition to credits towards tuition, costs, fees, and interest from student loans. However, these options are only available after paying tuition fees, and are more like rebates than discounted tuition. You can learn more about education tax breaks on the internet at government tax sites. Families can also qualify for tax breaks for their children’s education.
Mathew Jade is a passionate blogger who loves to write on Economics and finance-related topics. For further updates follow @Mathew_Jade
Going to college? Give yourself the gift of good grades with The Secrets of Top Students
By Anne Davies
Study and exam-related stress is a problem for many students, whether or not they’re focused on achieving academic excellence, and it’s something that can affect students of any age. Nobody is immune to academic stress, but there are plenty of things you can do to reduce anxiety that centers on studying and exams.

Meditation can help you do better on exams. (Photo courtesy of Grand Velas Puerto Vallarta via Flickr.)
Preparation and Organization
There are several key skills that go a long way towards reducing anxiety, just because they form a solid base of preparation and organization that help you stay focused and stay on top of your workload. Having a comprehensive study system is crucial, and it’s also important that whatever system you develop is one that works for you.
For example, having a good note-taking system is essential for college lectures, but the same system won’t necessarily work for everyone. Some people prefer to write notes by hand, others prefer to use a laptop, and some like to take audio recordings of lectures and write up notes at their leisure. It’s just a matter of trying different methods to find out what works best for you. It’s also useful to determine what your learning style is; some people learn best by listening, some by doing, some by reading or writing, and if you’re trying to force yourself into a style that isn’t optimal, studying instantly becomes less effective and more stressful.
One of the most important skills to have is that of time management: being able to organize your time and use it effectively, prioritizing tasks based on how urgent they are, and sticking to whatever schedule you create for yourself. Without good time management, you’re likely to end up completing assignments at the last minute, losing sleep studying the night before exams, putting yourself through a considerable amount of unnecessary stress, and impairing your academic performance. Study and exam anxiety is often related to lack of preparation, so the key way to reduce that anxiety is simply to create a study schedule and stick with it.
And finally, take advantage of the wealth of apps and programs that have been created for time management and study organization. There are some incredibly useful tools available—many of which are free—that can help you improve your study habits and manage your time more effectively.
Of course, for some people, no amount of preparation can help reduce academic anxiety to a manageable level, so it’s also useful to consider other methods of coping with study-related stress.
Relaxation Techniques
The second aspect is learning how to relax and control your anxiety; and while to some this might seem like the easy part, it’s very difficult for many people. It’s especially difficult when study anxiety isn’t rooted in tangible problems like lack of organization, because when anxiety develops for no apparent reason, it’s harder to manage because there are no concrete ways to solve the root cause. Regardless of the cause of the anxiety, however, there are some techniques that can definitely help reduce anxiety and stress, and all of the problems and symptoms they cause. One of these is meditation—a technique that has become widely used all over the world by all kinds of people, is easy to start, and when practiced regularly, is very effective. There’s more than one kind of meditation, however; for example, there’s mindfulness meditation, guided meditation, Taoist Qi gong, and transcendental meditation. While none are specifically aimed at managing stress, the general consensus is that mindfulness meditation, or Vipassana, is the most effective in this regard. Recent studies show that this kind of meditation can improve cognitive function as well as reduce stress, anxiety, and depression, so it’s perfect for students.
Meditation isn’t going to be possible during a test situation, of course, but there are some related techniques that are perfect for reducing anxiety when it hits. Simply spending thirty seconds or a minute engaging in deep breathing—long, slow breaths in and out—can be very calming. Another useful technique is “mindfulness moments,” in which you take a few seconds to engage with your surroundings by taking note of what you can see, hear, smell, and feel. Engaging your senses helps you feel more grounded, and helps you link back to the calming sensations you feel during mindfulness meditation exercises.
For more tips on relaxation and other study skills, order your copy of The Secrets of Top Students today!
By Anne Davies
Eating disorders are a major problem in our society – one which is growing all the time. Many blame the unrealistic portrayal of physical ‘perfection’ in the media for the rise, and there certainly seems to be little doubt that a sense of personal physical inadequacy and a need for ‘perfection’ are contributory factors in eating disorder development. Other theorized triggers for the development of an eating disorder include a history of being bullied, a poor social and/or home life, and genetic factors. However, what surprises many is the demographics of those who tend to suffer from eating disorders. Far from being a problem restricted to superficial teenage girls, the eating disorder spectrum encompasses a vast and growing range of people from all walks of life – and high-achieving students are particularly at risk.
Poor Stereotypes
Eating disorders are, unfairly, considered to be a disease suffered exclusively by teenage girls who are obsessed with their appearance above all else. Indeed, such girls are considered something of a cultural joke – the trope of superficial teenage cheerleaders heading merrily to the bathroom to throw up has been played for laughs many times. This is wrong on the one level – bulimia is a serious illness requiring extensive and intensive recovery. It should not be treated as a joke, no matter who is suffering from it. So ingrained is this stereotypical perception of eating disorder sufferers that many keep the fact that they are struggling with such conditions silent, so as not to be considered superficial. The former Deputy Prime Minister of Britain, John Prescott, revealed in 2008 that he had battled bulimia for ten years without breaking silence, as he was ‘ashamed’ of being high profile, high achieving, and male while suffering from the illness. More worryingly, the public’s reaction to the news proved him somewhat right – while many were sympathetic, others responded with incredulity and ridicule. This is deeply unfair. Not only is it cruel and unnecessary to mock someone with a serious illness, there is considerable evidence to suggest that high-profile high achievers like Prescott (and, on a lesser scale, valedictorians) are more likely to suffer from an eating disorder than many other groups.
Perfectionism
It’s all to do with perfectionism. Perfectionism is either a blessing or a curse, depending upon which aspect of your life you apply it to. Many valedictorians will recognize the urge to get things absolutely right 100% of the time. Being used to being good at academic matters, valedictorians sometimes find it hard to deal when they are bad at something – they aren’t used to it, and therefore haven’t built up the emotional software necessary to take the knocks and build from them. This is great when it comes to achieving in many areas of life – valedictorians are made from the kind of stuff that won’t back down from a challenge, and will persevere at something until they get it absolutely right. However, when one lets that perfectionism leak over into other life areas, things can go wrong – particularly when combined with the tendency to over-analyse which comes as part of the package for many high-achievers. Research is increasingly finding that obsessive perfectionism and over-analysis present a major risk for the development of eating disorders. If you can’t switch off and just let certain aspects of your life ‘be’, then you’ll start overanalyzing and trying to control every little thing, which can quickly lead to one becoming obsessively controlling about what they eat – particularly when combined with internal perfectionist pressure to look a certain way.
(Editor’s Note: Check out an article I wrote about students and perfectionism here.)
Control
High achievers often feel an intense amount of pressure – and it is well known that stress can manifest as disordered eating. When one feels pressured, one often feels that aspects of one’s life are spiralling out of control. An easy way to reassert control over one area at least of one’s life is through controlling one’s diet. One eating disorder which high-achievers are increasingly beginning to suffer from is a condition known as ‘orthorexia nervosa’. This manifests when a person becomes so absolutely obsessed with controlling the ‘purity’ of what they eat that their health (ironically) begins to suffer as a result. The degree of control required to sustain an orthorexic diet is phenomenal to the point of obsession, and ensures that the sufferer’s self-esteem quickly becomes dependent upon their diet. It’s frequently a slippery slope from orthorexia to anorexia or bulimia so, while it is of course very good indeed to watch what you eat and ensure that your food is healthy, if your diet starts controlling your life, take a step back and focus on more important things.
Self-Recognition
Perhaps the worst thing about developing an eating disorder is the impact which it has on the rest of your life. Remember, an eating disorder is primarily psychological – and it leaves little brain space for anything else. As such, your studies will naturally suffer while you battle the condition. It is vital, therefore, that you develop the self-knowledge necessary to recognize if and when your eating habits are becoming problematic. If you catch the tendencies early, and seek help as soon as possible, it will be much easier to break the condition and get your life back on track. Speaking out is the most important thing – no matter what sitcoms like Family Guy may claim, eating disorders are not a joke, and no medical professional or person who cares will laugh at you for having one. Help is available – just remember that your health is more important than your appearance!